All colored pencils contain both waxes and oils.
Together, wax and oil create the “binder formula” which is often a complex combination of different oils and multiple waxes. The exact ingredients and proportions are proprietary and like Colonel Sander’s Eleven Herbs & Spices, colored pencil companies are very strict about who has access to this information
As customers, we do not know how much wax or oil a particular pencil contains.
The popular distinction between wax-based and oil-based pencils is largely a marketing term and is absolutely NOT a reliable technical classification.
It’s a myth that oil-based pencils are harder and are wax-based pencils are softer.
A pencil's firmness, glide, and layering behavior depend on its complete formulation, not simply whether it's advertised as wax or oil-based.
Bottom line: Judge a pencil by how it performs, not what the advertising says.